"This [conference call] was a clinic," Cramer said on "Squawk on the Street." "It reminds me of when Isaiah Thomas decided to take it to Michael Jordan [in an ESPN "30 for 30" documentary] … This is the Jordan shoe on steroids."

On Thursday, the company reported fiscal fourth-quarter earnings of 98 cent per share, well above Wall Street's estimates for 83 cents. It also posted revenue of $7.78 billion, above a projection for $7.69 billion.

Cramer added that a great part of Nike's success can be attributed to strong sales in Western Europe, while not many companies have had recent success there due to the rising dollar. "I was waiting for them to say that Greece was good."